Strong balance sheet with 1.5x the amount of debt in cash. Leader in the business of lift trucks, while not glamorous, but well poised to expand in the improving economic conditions in the Americas, where it gets 2/3 of its revenue. At a P/E ratio of 9 and well-positioned to grow domestically and globally, this recent spinoff is a quality company that is cheap.

I was following NACCO's spin-off of Hysterical-Yale for a while. I never added shares of it in real life because while not negative, I'm not a raging bull on the economy and this seems like she sort of company that needs a strong economy to thrive. I almost forgot about HY until this week's Barron's article about it. The piece makes a solid case that HY will be able to close the 20% discount that it trades at to it's piers by directing of its free cash flow solely to it's operations and paying dividends and streamlining it's operations.